CVRx, Inc. (NASDAQ:CVRX) Insider Sells $19,419.40 in Stock

CVRx, Inc. (NASDAQ:CVRX) insider Paul Verrastro sold 1,430 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $13.58, for a total transaction of $19,419.40. Following the completion of the transaction, the insider now owns 1,875 shares of the company’s stock, valued at $25,462.50. This represents a 43.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

CVRx Stock Performance

Shares of CVRX traded up $1.16 during mid-day trading on Thursday, hitting $14.68. 254,807 shares of the company’s stock were exchanged, compared to its average volume of 277,507. CVRx, Inc. has a fifty-two week low of $6.40 and a fifty-two week high of $33.13. The firm has a market capitalization of $356.02 million, a P/E ratio of -5.44 and a beta of 1.16. The business’s 50 day moving average is $10.76 and its two-hundred day moving average is $9.67. The company has a current ratio of 11.32, a quick ratio of 10.23 and a debt-to-equity ratio of 0.76.

CVRx (NASDAQ:CVRX) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.12). The firm had revenue of $13.37 million for the quarter, compared to analysts’ expectations of $13.28 million. CVRx had a negative return on equity of 89.06% and a negative net margin of 123.75%. During the same period in the prior year, the company earned ($0.43) earnings per share. On average, equities analysts expect that CVRx, Inc. will post -2.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CVRX. Vanguard Group Inc. raised its holdings in CVRx by 5.6% during the first quarter. Vanguard Group Inc. now owns 594,312 shares of the company’s stock worth $10,822,000 after purchasing an additional 31,720 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in CVRx by 70.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 253,968 shares of the company’s stock worth $4,625,000 after purchasing an additional 105,198 shares in the last quarter. FourWorld Capital Management LLC acquired a new stake in shares of CVRx during the 1st quarter valued at approximately $374,000. Bank of New York Mellon Corp lifted its position in shares of CVRx by 30.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,191 shares of the company’s stock valued at $446,000 after acquiring an additional 8,741 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of CVRx by 28.8% during the 2nd quarter. Rhumbline Advisers now owns 17,260 shares of the company’s stock valued at $207,000 after acquiring an additional 3,863 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVRX. Canaccord Genuity Group upped their price objective on shares of CVRx from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Lake Street Capital upped their price objective on shares of CVRx from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price objective on shares of CVRx in a research note on Wednesday, October 23rd. Piper Sandler restated an “overweight” rating and issued a $16.00 price objective (up previously from $13.00) on shares of CVRx in a research note on Wednesday, October 30th. Finally, Craig Hallum increased their target price on shares of CVRx from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.83.

CVRx Company Profile

CVRx, Inc, a commercial-stage medical device company, focuses on developing, manufacturing, and commercializing neuromodulation solutions for patients with cardiovascular diseases. The company offers Barostim, a neuromodulation device indicated to improve symptoms for patients with heart failure with reduced ejection fraction or systolic heart failure.